The question of oil is one
of the central issues at the heart of the Referendum debate and the case made
by the N56 body of Aberdeen that the prospects are optimistic is at the centre
of the Yes campaign.
Euan Mearns of the former
Oil Drum site and an oil man has taken a hard look at this in the context of
what is involved in drilling and taking oil and does not agree.
This item suggest that the figures
simply do not stack up in reality and we are talking in trillions of
pounds. It is an intricate read and it
would be as well to look down the comments where a number of experts do add to
the debate.
As someone with a long
memory, I can recall major sectors of the economy in the past now gone where
optimistic politicians and government advisers foretold futures that did not
happen.
The common feature was
that there came a time when issues, some predictable, many not, led to
contraction and losses and with it decline or the need for costly state support
or worse.
The graph at the beginning of Euan Mearns' post seems to say it all.
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